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Mar 31, 2022
Cabaletta Bio Q1 2022 Earnings Report
Cabaletta Bio reported financial results for the first quarter ended March 31, 2022 and provided a business update.
Key Takeaways
Cabaletta Bio reported first quarter 2022 financial results, highlighting the progress of its DesCAARTes™ Phase 1 trial and the upcoming first-in-human trial of MuSK-CAART. The company's cash, cash equivalents, and investments totaled $109.2 million as of March 31, 2022, expected to fund operations through Q3 2023.
DesCAARTes™ trial clinical and translational data from cohorts A3 and A4 and 28-day safety data from cohort A5 expected to be presented at upcoming scientific meetings in mid-2022.
Multiple abstracts accepted for presentation at upcoming ASGCT and SID Annual Meetings.
MuSK-CAART first-in-human trial on track to commence in 2022 following Fast Track Designation and IND clearance from the FDA.
Cabaletta plans to initiate the MusCAARTes™ trial in 2022 and will evaluate MuSK-CAART as a potential treatment for patients with MuSK-associated myasthenia gravis.
Cabaletta Bio
Cabaletta Bio
Forward Guidance
Cabaletta Bio anticipates several milestones, including presenting clinical data from the DesCAARTes™ trial and initiating the MusCAARTes™ trial. The company expects its current cash reserves to fund operations through the third quarter of 2023.
Positive Outlook
- DSG3-CAART: Desmoglein 3 chimeric autoantibody receptor T (DSG3-CAART) cells as a potential treatment for patients with mucosal pemphigus vulgaris (mPV).
- DesCAARTes™ Trial Progressing in Cohort A5
- Multiple upcoming data presentations at American Society of Gene & Cell Therapy (ASGCT) 25th Annual Meeting and Society For Investigative Dermatology (SID) 2022 Annual Meeting
- MuSK-CAART: Muscle-specific kinase (MuSK) chimeric autoantibody receptor T (MuSK-CAART) cells as a potential treatment for patients with MuSK-associated myasthenia gravis.
- First-in-human trial on track to commence in 2022
Challenges Ahead
- Risk that signs of biologic activity may not inform long-term results
- Risks related to clinical trial site activation or enrollment rates that are lower than expected
- Risks related to unexpected safety or efficacy data observed during clinical studies
- Risks related to the impact of public health epidemics, such as the ongoing COVID-19 pandemic, affecting countries or regions in which we have operations or do business
- Uncertainties related to the initiation and conduct of studies and other development requirements for its product candidates